A business owner’s policy (BOP) combines property and liability insurance by packaging these coverages into a single insurance policy. This type of packaged business insurance is often a good choice for small businesses and medium-sized businesses, such as restaurants or retail shops.
Business Owners Policy
What is business owner's policy (BOP) insurance?
What does BOP insurance cover?
The 2 main coverages provided in a BOP are liability and property coverages. Some examples are:
- Bodily injury or property damage liability (e.g., you spill water on a client’s computer causing damage)
- Defense costs for covered liability losses (e.g., libel and slander)
- Protection for business furniture and equipment (e.g., chairs, desks, and computers)
Who needs a business owner's policy?
The following businesses frequently purchase business owner’s policy (BOP) insurance:
- Salons or Barber/Beautician
- Offices
- Professional consultants
- Consumer services
- Apartment buildings
- Restaurants
- Technology consultants and solution providers
- Florist
- Retail stores